Section 226C

No payment for loss of office may be made by any person to a person who is, or has been, a director of a quoted company ... unless— the payment is consistent with the approved directors' remuneration policy, or the payment is approved by resolution of the members of the company. The approved directors' remuneration policy is the most recent remuneration policy to have been approved by a resolution passed by the members of the company in general meeting.

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Source: legislation.gov.uk · retrieved 2026-09-04